Infinity Economics is rolling out smart contracts feature

Infinity Economics is to release smart contracts feature on its platform on May 5 that will symbolize the end of the Core update cycle
03 April 2018   579

Earlier in March Infinity Foundation has released a Feature Roadmap along with the Core update. The roadmap is significant as it tracks the height of its blockchain and upon reaching a certain height a new feature (crowdsourcing, escrow service) is automatically activated for the community. The final step of the roadmap is set to Smart Contracts feature. The height is set at 695,640th block.

According to the project's whitepaper, smart contracts are deemed one of the most promising applications of the blockchain technology. As a bright example, Atomic Cross Chain transactions enable truly decentralized trading between cryptocurrencies. Potentially, it allows a trader to exchange a token for a coin with a mixing service for the sake of privacy and send the coin to a new wallet.

Another application that IEP is eyeing is smart auction. Participants could send money to the contract, and every time a larger bid arrives, the previous gets automatically refunded. Among other applications are autonomous corporations,  gambling, self-mixing and smart properties.

As of the moment of publication, Infinity Economics market parameters are as follows

Average price: $0.013351

Volume (24H): $187,074

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   93

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.